Last week, Federal Reserve Board Chairman Janet Yellen was awarded the Radcliffe Medal at Harvard’s Radcliffe Institute for Advanced Study. At a lunch in Yellen’s honor, Lizabeth Cohen, dean of the institute, praised the Fed chair’s “steadfast commitment to robust growth” and the way the she “steers our economy,” guided by the philosophy of her Yale mentor, Keynesian economist James Tobin.

Given any quantifiable standard, freedom and private property have proven themselves superior to planning, bureaucracy, and the welfare state. As the great laissez-faire economist Jean-Baptiste Say wrote in 1803, “Nothing can be more idle than the opposition of theory to practice!” Say’s message is as clear now as it was then: the mechanics of liberty work precisely because they respect our individual rights.

[Editor’s note: Originally posted at Ricochet.com.] One of the reasons that American libertarians as a political movement never amount to anything is that they can be incredibly intolerant people. This…

Heartland Institute friend Darren Nelson (an Aussie living in Wisconsin) shares with us an interesting post from the libertarian Mises Institute about a now-infamous December piece in New York magazine…